20 February 2013

"In a word, thanks to the Jews, one can emerge from the enchanted mists of the mythical past, the Roman and Arthurian and Confederate past, lovely as it is. For, whatever else the Jews are, they are not mythical. Myths are stories which did not happen. But the Jews were there then and are here now.

"Semitic? Semiotic? Jews and the science of signs? Yes, because in this age of the lost self, lost in the desert of theory and consumption, nothing of significance remains but signs. And only two signs are of significance in a world where all theoretical cats are gray. One is oneself and the other is the Jews. But for the self that finds itself lost in the desert of theory and consumption, there is nothing to do but set out as a pilgrim in the desert in search of a sign. In this desert, that of theory and consumption, there remains only one sign, the Jews. By 'the Jews' I mean not only Israel, the exclusive power of God, but the worldwide ecclesia instituted by one of them, God-become-man, a Jew."

05 February 2013

"Finally, it is worth noting that institutions--even well-designed ones--will not lead to beneficial outcomes by themselves. Institutions are inseparable from the people who make use of them, and, as noted above, all rules are subject to manipulation by political actors. Thus, at some point, we must cease to rely upon institutional corrections and place our faith in a citizenry well educated in virtue. Ultimately, we must be the guardians."

--David Schwab and Elinor Ostrom, "The Vital Role of Norms and Rules in Maintaining Open Public and Private Economies," in Moral Markets: The Critical Role of Values in the Economy, Paul J. Zak, ed. (Princeton, 2008), 233; italics in the original.

James R Otteson PhD

About Me

I am executive director of the BB&T Center for the Study of Capitalism, the Thomas W. Smith Presidential Chair in Business Ethics, and Professor of Economics at Wake Forest University in Winston-Salem, North Carolina. I am also a Senior Scholar at the Fund for American Studies in Washington, DC, a Research Professor in the Freedom Center and Department of Philosophy at the University of Arizona, and a Research Fellow at the Independent Institute in California. I have taught previously at Yeshiva University, New York University, Georgetown University, and the University of Alabama.